If your business was impacted by the Severe Storms, Straight–line Winds, Flooding, and Tornadoes that occurred on 12/10/2021, your business may qualify for a low-interest federal business disaster loan. The Kentucky SBDC can assist you in accessing the capital and resources you need to recover.
Federal Disaster Loan Programs
ACTIVATED: U.S. SBA Business Physical Disaster Loan
The SBA’s Business Physical Disaster Loan program loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size and most private nonprofit organizations may apply to the SBA for a loan to recover after a disaster.
The SBA Business Physical Disaster Loan covers disaster losses not fully covered by insurance. If you are required to apply insurance proceeds to an outstanding mortgage on the damaged property, you can include that amount in your disaster loan application.
Counties: Caldwell, Christian, Fulton, Graves, Hart, Hickman, Hopkins, Logan, Lyon, Marshall, Muhlenberg, Ohio, Taylor, and Warren
Deadline: February 10, 2022
ACTIVATED: U.S. SBA Economic Injury Disaster Loan
The SBA’s Economic Injury Disaster Loan program provides capital loans to help small businesses, small agricultural cooperatives, and most private, non-profit organizations meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.
A business may qualify for both an EIDL and a physical disaster loan. The maximum combined loan amount is $2 million.
Counties: Caldwell, Christian, Fulton, Graves, Hart, Hickman, Hopkins, Logan, Lyon, Marshall, Muhlenberg, Ohio, Taylor, and Warren; and the contiguous Kentucky counties of: Adair, Allen, Barren, Breckinridge, Butler, Calloway, Carlisle, Casey, Crittenden, Daviess, Edmonson, Grayson, Green, Hancock, Hardin, Larue, Livingston, Marion, McCracken, McLean, Metcalfe, Simpson, Todd, Trigg, and Webster.
Deadline: September 12, 2022